2 unchanged sentences
The fair value of our long-term debt, all of which is fixed-rate debt, is subject to fluctuations resulting primarily from changes in market interest rates.
−Removed: The following table provides the fair value of our long-term debt and the change in fair value based on a 1% increase or decrease in market interest rates at September 30, 2023 and December 31, 2022:
−Removed: (in billions) September 30, 2023 December 31, 2022
+Added: The following table provides the fair value of our long-term debt and the change in fair value based on a 1% increase or decrease in market interest rates at March 31, 2024 and December 31, 2023:
+Added: (in billions) March 31, 2024 December 31, 2023
Fair value $ 23.1 $ 24.4
1 unchanged sentence
Increase in fair value from a 1% decrease in market interest rates 2.2 2.2
−Removed: We expect interest rates on borrowings under our New Credit Agreement to be based on the Term Secured Overnight Financing Rate, plus a percentage based on the higher of the ratings of our long-term senior unsecured debt from Moody’s and S&P.
−Removed: The applicable percentage for borrowings under our prior credit agreement at September 30, 2023 was 1.0% based on our long-term senior unsecured debt ratings on that date.
−Removed: At September 30, 2023 and December 31, 2022, we had no borrowings under our prior credit agreement.
+Added: We expect interest rates on borrowings under our Credit Agreement to be based on the Term Secured Overnight Financing Rate, plus a percentage based on the higher of the ratings of our long-term senior unsecured debt from Moody’s and S&P.
+Added: The applicable percentage for borrowings under our Credit Agreement at March 31, 2024 was 1.0% based on our long-term senior unsecured debt ratings on that date.
+Added: At March 31, 2024 and December 31, 2023, we had no borrowings under our Credit Agreement.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.